The decentralized autonomous organization (DAO) behind the decentralized protocol BarnBridge has conducted its voting on how to react to the United States Securities Exchange Commission’s (SEC) potential demands.
The voting ended on Oct. 12 with a unanimous decision to comply with the SEC’s potential demands and pay fines if necessary. Tyler Ward and Troy Murray were nominated as the DAO’s special delegates for dealing with the regulator. At the same time, Douglas Park remains the DAO’s legal counsel and will sign the final version of the order on behalf of BarnBridge. Voters have also approved the DAO’s treasury to “sell all tokens that it is permitted to sell” if needed.
No information is available on any specific order the SEC has sent to BarnBridge. The regulator’s investigation into the DAO began in June 2023. BarnBridge immediately paused all its work and closed its liquidity pools. Addressing the members, Ward provided no details for the SEC’s investigation due to its “non-public nature.”
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The price of BarnBridge’s native token, BOND, has been gradually falling since its last peak on July 25, when it reached $21.69. At the time of publication, it stands at $1.67, according to CoinGecko. It reached its all-time high of $185.7 in October 2020.
In 2021, BarnBridge announced its “SMART Exposure” application, enabling users to passively maintain a particular weighting between the assets in a specific ERC-20 token pair through automatic rebalancing.
In November 2022, the SEC instituted administrative proceedings against the first legally recognized DAO in the U.S., the American CryptoFed DAO. According to the SEC, the Form S-1 registration statement filed by American CryptoFed lacked vital information, such as audited financial statements and details about its business and management.
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Sir Keir Starmer and Volodymyr Zelenskyy spoke about ending Russia’s “brutal war” on Ukraine in their latest phone call on Easter Monday, as Vladimir Putin said he was open to bilateral talks. The prime minister and Ukrainian president spoke on Monday afternoon, when Sir Keir “reiterated his iron-clad support for Ukraine“. A Downing Street spokesperson added that the prime minister “said that the UK supports Ukraine’s calls for Russia to commit to a full ceasefire and that now is the time for Putin to show he is serious about ending his brutal war”. “They discussed the latest developments on the Coalition of the Willing, and looked forward to further progress towards a just and lasting peace,” the spokesperson added. Mr Zelenskyy later said on social media that he had a “good and detailed conversation” with the prime minister, and added Ukrainian officials will be in London for talks on ending the war with Russia on Wednesday. “We are ready to move forward as constructively as possible, just as we have done before, to achieve an unconditional ceasefire, followed by the establishment of a real and lasting peace,” he added. The Ukrainian president added that the 30-hour Easter truce, which both Kyiv and Moscow accuse the other of violating, showed that Russia “are prolonging the war”. It comes as Mr Putin proposed bilateral talks with Ukraine on a longer ceasefire, which would mark the first time Russia held such talks since a failed peace deal soon after the invasion in 2022. Speaking to a state TV reporter, the Russian president said: “We always have a positive attitude towards a truce, which is why we came up with such an initiative (the Easter truce), especially since we are talking about the bright Easter days.” When asked about Mr Zelenskyy’s calls to extend the 30-hour ceasefire into a 30-day pause on civilian targets, he added: “This is all a subject for careful study, perhaps even bilaterally. We do not rule this out.” The Ukrainian president said on Sunday evening that the Russian army had “violated Putin’s ceasefire more than 2,000 times” during the day, and accused Russia of “failing” to “uphold its own promise of a ceasefire”. Please use Chrome browser for a more accessible video player From Saturday: Why Putin offered an Easter truce? It also comes after Donald Trump has said he hopes Russia and Ukraine “will make a deal this week,” after he and his secretary of state Marco Rubio warned that the US will walk away from efforts to broker a peace deal unless there are clear signs of progress soon. The US president said on his Truth Social platform that both countries would “start to do big business” with the US after ending the war. Read more from Sky News: Last month, Ukraine accepted Mr Trump’s proposal for a 30-day truce, but Mr Putin refused to back a full 30-day ceasefire, saying crucial issues of verification had not been sorted out. He then said he would agree not to target Ukraine’s energy infrastructure. However, both sides have accused each other of breaking the moratorium on attacks on energy targets and at sea. Paul Atkins has officially been sworn in as the 34th Chairman of the Securities and Exchange Commission. The April 21 announcement comes nearly two weeks after Atkins’ position was confirmed by the US Senate in a 52-44 vote on April 9. “I am honored by the trust and confidence President Trump and the Senate have placed in me to lead the SEC,” Atkins said in a statement. “As I return to the SEC, I am pleased to join with my fellow Commissioners and the agency’s dedicated professionals to advance its mission to facilitate capital formation; maintain fair, orderly, and efficient markets; and protect investors.” Atkins is widely expected to lead a more crypto-friendly SEC than former chair Gary Gensler under the Biden administration. He previously served as an SEC commissioner between 2002 and 2008. This is a developing story, and further information will be added as it becomes available.
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